The $400M Crypto “Pig Butchering” Industry: How to Avoid the Slaughter

This report explains 'pig butchering' investment scams where fraudsters build trust with targets, entice them into fake investment platforms or apps (often spoofed domains), and then exfiltrate funds—frequently laundering stolen cryptocurrency through intermediary wallets, DEX swaps, and off-ramps on exchanges outside U.S. jurisdiction. The document provides victim demographics and loss statistics, law enforcement actions (indictments and domain seizures), an on-chain case study of fund flows, and practical detection/avoidance tips.